Full Speed to Full Need Scholarship Campaign
“We fully realize college costs can be a financial burden, which is why we are so focused on scholarship support. With this campaign, along with an institutional commitment to contain expenses and manage tuition growth, we aim to help students from all backgrounds attend Lawrence and reap the benefits of a challenging and rigorous education.”
– President Mark Burstein
Our Aspirations to Become a Full Need Institution
Lawrence strives to be a full need institution - to provide the full demonstrated financial need for all of our students – like our aspirational peers do. Students who receive financial aid from Lawrence also invest in their education through family contribution, loans, and student employment. On average, they still find themselves $4,000 short each year. This is the gap. Students often take on unsubsidized Stafford loans and, in some cases, private loans to bridge the gap between the cost of attendance and their financial aid packages. Full Speed to Full Need aid aims to close this gap, enabling students to graduate from Lawrence with significantly less debt.
Our goal is to close the gap for every student with financial need, which requires an additional $85M in scholarship endowment.
We are so proud to share that we have raised $72M toward our $85M goal! This could not have been done without the generosity of so many of our donors! Our anonymous donor provided two matching challenges to this important initiative totaling $30M and true to Lawrence form, we have succeeded in meeting both matches! Thanks to this campaign, Lawrence was able to “close the gap” for 101 students for the 2016-17 academic year, and the average gap has decreased 20 percent. On behalf of our students—we are grateful! We still have more work to do to become one of 50 colleges and universities in the country who provide the full demonstrated financial need for all students. This initiative is already changing student lives and will transform the entire campus.
For the 2017-18 academic year, we have a total of 128 students who are earmarked as being impacted by FSFN!
Endowed Scholarship Funds
The following are thresholds for establishing named scholarships based on the average financial need of $25,000 per student each year.
- $2,000,000 provides approximately $100,000 annually, supporting the full financial need of a “generation” of students, one in each class year – freshman, sophomore, junior, senior
- $500,000 provides approximately $25,000 annually, supporting the full financial need of one student per year in perpetuity
- $100,000 provides approximately $5,000 annually, supporting the partial financial aid of one student per year in perpetuity